Abu Dhabi National Oil Company (ADNOC) signed a multi-year liquefied natural gas (LNG) supply agreement valued between $500 million and $700 million with JERA Global Markets, a trading subsidiary of Japanese energy giant JERA, ADNOC announced on Tuesday.
‘This LNG supply agreement marks a significant milestone in ADNOC Gas’ long-standing strategic partnership with JERA Co., Inc., demonstrating our continuous and shared commitment to advancing sustainability in the energy sector and supporting a reliable and cleaner energy future for Japan and beyond,’ ADNOC’s CEO Ahmed Alebri said.
Kazunori Kasai, Chairman of JERA, said, ‘We are pleased to continue our LNG partnership with ADNOC Gas as the JERA Group continuously looks towards strengthening our global LNG portfolio with stable, flexible and competitive LNG supply, which is essential in the energy transition.’
This agreement follows several significant international LNG sales agreements that ADNOC Gas has recently signed, notably with PetroChina International Co., Ltd. (PCI), Japan Petroleum Exploration Co., Ltd. (JAPEX), TotalEnergies Gas and Power, and India Oil Corporation (IOCL).
The value of LNG supply agreements that ADNOC Gas has signed since its listing in March this year ranges between $9.4 billion and $12 billion.
Constructed in the 1970s, ADNOC’s LNG production facilities on Das Island supplied LNG to the Tokyo Electric Power Company, which is one of the parent companies of JERA Co. Inc., for over 40 years. This new supply agreement with JERA Global Markets renews and further enhances its partnership.
